Google knows that everybody loves more free storage space, so they have tripled the amount of free cloud-based storage they offer on Google Drive from 5GB to 15GB. Kind of. Previously, Google Drive offered 5GB of storage, and Gmail offered 10GB. Now, 15GB of free storage will be shared between Drive, Gmail, and Google+ photos (previously Picasa), so while there is still the same amount of space being offered, users can now freely choose how they want to split up their 15GB. Compared to other free cloud storage competitors, Dropbox offers 2GB of free storage, Apple iCloud 5GB, and Microsoft SkyDrive 7GB.
In addition to the additional free space, the previous lowest tier option for additional storage space, $2.49 per month for 25GB, has been removed, making the new cheapest option $4.99 for 100GB. All of these changes will roll out in the next few weeks.
Source: Google Drive Blog